Friday, August 05, 2011
Ezra Klein, writing in today's Washington Post and attempting to explain what is happening with our troubled economy, says the following: "(the market is) diving because of forces Washington can’t control, and in many cases, doesn’t understand very well".
I completely agree with Klein, and for one of only a few times. The stock market, as well as the overall economy that the stock markets are but a small part of, is indeed something that is beyond any the ability of any one person or group of people to understand.
And as something that people don't and can't understand, it is the textbook definition of chutzpah (or arrogance, stupidity or something else along those lines) to argue, as Klein does, that the very people who don't understand it should nonetheless be entrusted with the power to regulate and control it.
Why in the world should anyone trust Congress and the President to pass laws controlling the economy when they don't understand what they're trying to control? I know I don't.